Property News

House prices: the best and worst performing UK towns

See where house prices rose by 25pc this year, and which area suffered a 5pc fall

The London Borough of Greenwich recorded the biggest rise in house prices across the UK over the past year, with Crawley in West Sussex the only area outside of the capital to make the top 10.

The average house price in Greenwich, south east London, rose 24.6pc in the year to November from £263,183 to £328,044, according to research by Halifax.

This was significantly faster than in London as a whole, which saw price growth of 13pc over the same period.

The data shows prices rose by 8.5pc across the UK, bringing the average house price to £209,428.

This is broadly in line with research published yesterday by property website Zoopla, which found UK prices rose by 6pc in 2014 on average, and 15.6pc in London.

Halifax said Ealing in west London experienced the second biggest rise with an average increase of 24.5pc, while Crawley recorded 22.4pc growth.

Sheffield was the top performing area outside the south with prices rising by an average of 13.7pc.

Over the past five years, the South Yorkshire city has seen a significant increase in employment, particularly in managerial, professional and technical skilled occupations. This may have been a key factor in helping to boost housing demand, and prices, in the city.

The 10 best performing areas

Town/area

Region

Average house price (Nov 2013)

Average house price (Nov 2014)

Percentage change (%)

Greenwich

Greater London

263,183

328,044

24.6

Ealing

Greater London

365,859

455,543

24.5

Crawley

South East

218,844

267,925

22.4

Tower Hamlets

Greater London

347,645

424,163

22.0

Kingston Upon Thames

Greater London

379,520

460,853

21.4

Sutton

Greater London

270,461

326,565

20.7

Waltham Forest

Greater London

274,924

331,080

20.4

Brent

Greater London

369,510

443,902

20.1

Southwark

Greater London

375,992

450,277

19.8

Hackney

Greater London

391,195

467,945

19.6

UK

193,087

209,428

8.5

Source: Halifax

But many towns in the North saw prices fall over the past year. Bury in Lancashire, Keighley in West Yorkshire and Nuneaton in Warwickshire recorded the largest price falls.

The 10 worst performing areas

Town

Region

Average house price (Nov 2013)

Average house price (Nov 2014)

Percentage change (%)

Bury

North West

147,407

140,376

-4.8

Keighley

Yorkshire and the Humber

137,463

131,403

-4.4

Nuneaton

West Midlands

151,260

146,487

-3.2

Newport

Wales

133,616

129,692

-2.9

Stoke On Trent

West Midlands

127,578

124,232

-2.6

St Helens

North West

123,069

119,851

-2.6

Livingston

Scotland

146,278

142,732

-2.4

Preston

North West

154,185

151,071

-2.0

Rochdale

North West

116,603

115,560

-0.9

Durham

North East

137,964

137,118

-0.6

UK

193,087

209,428

8.5

Source: Halifax

What's next for house prices?

House prices shot up in the first six months of the year but slowed sharply in the second half as buyer enquiries and mortgage approvals fell. This was partly due to tough new mortgage lending rules introduced in April that made it more difficult to secure a loan.

Many commentators expect UK prices to rise by around 5pc in 2015, but for zero growth in London.

Estate agent Savills said that having experienced the strongest price growth, London property will “flatline” next year, with five-year price growth totalling just 10.4pc.